Electric scooter is expected to grow more in the comparison of electrical motorcycles, in the near future. The main reason behind this is lower cost of scooters compared to electric motorcycles, in addition, electric scooters were introduced before motorcycles globally. Still, motorcycles are likely to show higher CAGR in the coming time.
In order to protect environment, and to control pollution and reduce environment degradation, electric vehicles were introduced. Governments of many countries are inspiring the people to increase the adoption of electric vehicles, which in turn, is helping the electric two-wheeler industrial growth.
The key reasons that are responsible the growth of the industry, is the constant push by the government in order to protect the environment, by easing the polices and helping the companies to setup manufacturing plants. In the terms of battery type, SLA-powered E two-wheelers held the highest market share, however, the lithium-ion are estimated to grow more in the years to come. The primary reason for the growing demand is, these batteries are more eco-friendly, and because of this, manufactures are leaning more toward these batteries.
Based on voltage, electric motorcycles and scooters with the voltage of 48 V, will lead the industry in the future. The major reason is the are cost-efficiency of these batteries.
APAC dominates the industry for electric two-wheelers. This is due to the increase in income, supportive government policies and growing urbanization, people are leaning more toward electric scooters and motorcycles. Apart from this, the European market is projected to show the fastest growth in the near future.
The growing dependency on online retail is observed as a major trend in the industry. This is because of it being an inexpensive and convenient shopping experience. Furthermore, the online medium is quite effective in helping many companies in carrying out their operations and reach to a larger pool of customers.
E-commerce market is a growing industry and effecting the electric scooter and motorcycle market positively, Furthermore, the online channel is quite effective in helping many companies carry out their operations and growing their reach to a bigger customers base.
Government is also taking several steps to increase the sales of EVs, such as, helping to set up manufacturing plants, relaxation in tax. For instance, Hong Kong government came up with many tax relaxation polices in order to increase the sales of electric two-wheelers.
Hence, to protect environment, the demand for the electric vehicle will rise in the years to come.
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